Archive for January, 2012

Banks agree to change mortgage lending practices and offer financial settlement

January 25, 2012

The following is brought to you by Examiner.Com Bank of America, JPMorgan Chase, Citibank, Wells Fargo, and Ally Financial- the five largest American mortgage lenders- have agreed to make significant changes to their industry practices. Multiple factors have been cited for the financial crisis that began in 2008 and led to millions of home foreclosures, […]

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JPMorgan CEO Said to Get About Same Total Pay for 2011

January 22, 2012

The following is brought to you by Dawn Kopecki at Bloomberg.Com JPMorgan Chase & Co. (JPM) awarded Chief Executive Officer Jamie Dimon about the same amount for 2011 as the $23 million he received for the previous year, according to a person with knowledge of the decision. The person asked not to be identified because […]

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JPMorgan Chase Accused of Fraud in Bankruptcy Filings

January 22, 2012

The following is brought to you by LawyerandSettlements.Com Newport Beach, CA: A consumer fraud class action filed against JPMorgan Chase alleges the bank routinely fabricated documents to deceive bankruptcy judges. The lawsuit, filed by Ernest Michael Bakenie, states “Through the use of fabricated assignments, endorsements and affidavits that purport to transfer deeds of trust, notes […]

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Citi, JPMorgan Report Lowest Revenue Since ’08

January 22, 2012

The following is brought to you by Donal Griffin, Dakin Campbell and Michael J. Moore at Bloomberg.Com Citigroup Inc. (C) joined JPMorgan Chase & Co. (JPM) in posting its lowest revenue since the height of 2008’s financial crisis as trading slumped. Wells Fargo & Co.’s revenue slid less as core lending businesses improved. Citigroup said […]

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JPM Chase Quietly Halts Suits Over Consumer Debts

January 22, 2012

The following is brought to you by Jeff Horwitz at AmericanBanker.Com JPMorgan Chase & Co. has quietly ceased filing lawsuits to collect consumer debts around the nation, dismissing in-house attorneys and virtually shutting down a collections machine that as recently as nine months ago was racking up hundreds of millions of dollars in monthly judgments. […]

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